In late morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to record a very strong gain. At the time of writing the benchmark index is up 2.7% to 6,158.9 points.
Four shares that are climbing more than most today are listed below. Here’s why they are zooming higher:
The Bendigo and Adelaide Bank Ltd (ASX: BEN) share price has jumped 8% to $7.91. Investors have been buying the regional bank’s shares thanks to improving investor sentiment and a positive broker note. In respect to the latter, this morning Ord Minnett upgraded Bendigo and Adelaide Bank’s shares to an accumulate rating with an improved price target of $8.10.
The BWP Trust (ASX: BWP) share price is up 3% to $3.88. This gain also appears to have been driven largely by a broker note out of Ord Minnett. This morning the broker upgraded its shares to a buy rating with a $4.40 price target. It believes that BWP is undervalued based on its long weighted average lease expiry.
The G8 Education Ltd (ASX: GEM) share price has jumped 12% higher to $1.16. This morning the childcare centre operator revealed that the end of the free childcare scheme would not necessarily be a bad thing. The company notes that the revised government support packages are structured in a way that means G8 expects to be in no worse a position relative to the prior support measures. This is even if occupancy levels were to deteriorate.
The Westpac Banking Corp (ASX: WBC) share price has stormed a further 6% higher to $19.97. Investors have continued to pile into the banking sector again on Tuesday on the belief that they have been oversold. All the big four banks are trading notably higher at the time of writing and are helping drive the ASX 200 higher.